Addictive Learning IPO sets price band at ₹140 apiece: GMP, other key details
The company’s promoters are Abhyudaya Agarwal and Ramanuj Mukherjee. Within the organisation, Ramanuj Mukherjee is the managing director and the promoter. He is a co-founder of the company that created “LawSikho.”
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Legal entrepreneur Abhyudaya Agarwal joined Addictive Learning Technologies as a co-founder and full-time director. In order to bridge the gap between academic understanding and real-world application, they founded the company under, which they have built the “LawSikho” brand.
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Addictive Learning Technology Limited is an educational technology platform that offers career services and upskilling mainly to mid-career and senior professionals, as well as occasional young professionals.
Addictive Learning Technology Limited IPO has reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.
Tentatively, Addictive Learning Technology IPO basis of allotment of shares will be finalised on Wednesday, January 24 and the company will initiate refunds on Thursday, January 25, while the shares will be credited to the demat account of allottees on the same day. Addictive Learning Technology shares are likely to be listed on NSE SME on Monday, January 29.
As per the company’s draft red herring prospectus (DRHP), the company’s listed peer’s are CL Educate Limited (with a P/E of 32.56), and Career Point Limited ( with a P/E of 15.41).
Between March 31, 2022, and March 31, 2023, Addictive Learning Technology Limited’s profit after tax (PAT) increased by 603.63% and its revenue increased by 80.41%.
Addictive Learning Technology Limited IPO details
The Addictive Learning Technology Limited IPO, which is worth ₹60.16 crore, comprises a fresh issue of 4,137,000 equity shares, aggregating up to ₹57.92 crore, and an offer for sale (OFS) component of 160,000 shares, aggregating up to ₹2.24 crore, according to DRHP.
The purpose of this issue is to pay for the company’s (in India or abroad) unidentified acquisition.
To cover the costs associated with the identified acquisition, the technology investment, the creation of new courses, the company’s branding and marketing costs, the working capital requirements of the business, the general corporate purposes, and the issue costs.
Addictive Learning Technology Limited IPO’s book running lead manager is Narnolia Financial Services Ltd, and the issue’s registrar is Maashitla Securities Private Limited.
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Addictive Learning Technology Limited IPO GMP today
Addictive Learning Technology Limited IPO GMP or grey market premium is +45. This indicates Addictive Learning Technology share price were trading at a premium of ₹45 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Addictive Learning Technology was indicated at ₹185 apiece, which is 32% higher than the IPO price of ₹331.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Published: 08 Jan 2024, 04:17 PM IST